MANILA, Philippines (CORRECTED) – Property developers appear to be refraining from launching new luxury residential projects in the country, according to a recent market report by CBRE Philippines.
While demand is present, CBRE noted that “developers have been cautious in launching luxury developments because of longer construction period and slower returns.”
However, capital values of luxury properties have increased 2.4% quarter-on-quarter, due to limited supply in the market.
Rental values have also been stable, as some prefer renting high-end residential properties instead of luxury properties. High-end properties have lower rental rates and comparable amenities to that of luxury developments, CBRE said.
Luxury residential condominiums average P240,000 to P250,000 in Makati central business district; P230,000 to P250,000 in Rockwell Center; and P200,000 to P220,000 in Bonifacio Global City.
CBRE pointed out that there are only two luxury residential condominiums in Metro Manila — the Grand Hyatt Residences and Discovery Primea — that are presently selling.
Demand for luxury condominiums are driven by expatriates, high-income individuals and foreign investors.
“Foreign investors are also investing in luxury residential properties as the country offers lower prices than most Asian countries. The average price of currently marketing luxury projects in the country is at $457 (around P20,000) per square feet, which is significantly lower than the regional average of $1,143 (around P50,000),” CBRE said.
Affordable, mid-market projects
Major developers are now focusing efforts on affordable and mid-market residential condominiums, CBRE said. This segment accounts for more than 80% of the total units for completion from 2013 to 2019.
Many high-density residential complexes are sprouting up near business districts, as more Filipinos opt to live in a condo as opposed to buying a house and lot outside of Metro Manila.
The demand for affordable and mid-market condos is being driven by OFWs and a growing middle class.
“With investor confidence solidified, it is anticipated that the demand for residential properties will continue to pick up in the coming quarters,” CBRE said. –Cathy Rose A. Garcia, ABS-CBNnews.com
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
